DNV and GL merger approved

The merger between the Norwegian testing and certification company Det Norske Veritas (DNV) and its German competitor Germanischer Lloyd (GL), which was announced at the end of 2012 (we reported), can proceed as planned. The competition authorities of South Korea, the U.S., the EU and China have approved the merger, according to the companies. The new company, formally called DNV GL Group, will comprise 17,000 employees across 300 sites in more than 100 countries, and have revenues of EUR 2,500 million per year.

"It is with great pride that we can now inform that this vision-driven merger for growth has been cleared by the competition authorities in all four required jurisdictions. The merging companies both represent leading market positions, complementary commercial positions and an acknowledged reputation for advanced technology, high quality and integrity," Henrik O. Madsen, Group CEO of DNV GL, said.

Madsen argues that this first consolidation of two classification societies will be a global game changer. "DNV GL will be uniquely positioned to offer a broader set of products and services, more in-depth expertise and a denser global network of sites second to none. And importantly, there is a strong commitment by both DNV and GL to the merged company continuing to invest heavily in technology, research and innovation."

In the first half of 2013, DNV GL focused on integration planning to ensure that the new company would be ready to start operating as a single company with effect from 12 September.

The DNV Foundation will hold 63.5% of the shares of the new DNV GL Group; Mayfair S.E., the owner of the GL Group, will hold 36.5%.

Renewables covered around 52 percent of gross power consumed in Germany during the first quarter of 2020. This all-time high was driven by a combination of one-off events. Preliminary calculations by the Centre for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) and the German Federal Association of Energy and Water Management (BDEW) yielded this figure. February’s record winds were followed by an unusually sunny March. Power consumption was also down by one percent from the same period last year.

Following the acquisition of Ria Blades, Siemens Gamesa has completed the purchase of selected assets from Senvion announced in October 2019. The acquisition of Onshore Service assets and IP was concluded in January 2020.